Reinsurance News
Reinsurance broking news
Reinsurance broker news, analysis and insight, covering reinsurance broking market developments, trends and opportunities.
Reinsurance brokers have a core role to play in the market, so we frequently cover news related to their activities and also interview senior reinsurance broking executives as well.
Cyber market still hardening as underwriting view shifts: analysts
18th January 2022
Analysts at some of the top re/insurance brokers have noted that the cyber reinsurance market is continuing to see hardening rates following another challenging year for losses in this sector. Gallagher Re classified the primary cyber markets as “truly hard” at recent renewals, but said there is still room for reinsurance ... Read the full article
Gallagher names Head of Financial Lines for Middle East
13th January 2022
Global re/insurance broker Gallagher has appointed Daniel Miller to lead its financial lines operations for clients in the Middle East. Miller will join Gallagher in April from Aon, where he has worked for the last eight years as Regional Head of Financial and Professional Liability (finpro) for the Middle East. He has ... Read the full article
Aon hires Pete Rutherford as Enterprise Client Leader, FI, UK
11th January 2022
Insurance and reinsurance broker Aon has appointed Pete Rutherford as Enterprise Client Leader, Financial Institutions in the UK, reporting to Richard Phelps, Head of Financial institutions (FI), UK and EMEA. Rutherford will help build key client relationships for Aon ... Read the full article
Gallagher Re adds Andrew Geldart to Australia & NZ team
11th January 2022
Global reinsurance broker Gallagher Re has announced the addition of Andrew Geldart to its Australia and New Zealand team as Executive Director Broking. Based in Sydney, Geldart joins the business with effect from December 2021. He arrives from Vero Insurance, where he has spent the previous 16 years, most recently as Senior ... Read the full article
Climate change making peak peril distinctions irrelevant: Howden
10th January 2022
According to analysts at Howden, the growing threat of climate change and its influence on the severity of many insured catastrophes is removing the need for any distinction between ‘peak’ and ‘non-peak’ perils. The broker says climate risk replaced COVID-19 to become the re/insurance market’s pre-eminent concern in 2021, as another ... Read the full article
Gallagher Re reports constrained capacity in global non-marine retro
10th January 2022
Global reinsurance broker Gallagher Re has reported constrained capacity in global non-marine retrocession as traditional reinsurers have restricted their requirements for capital deployment, with the ILS market showing significant outflows and limited inflows. The broker noted that aggregate capacity was in shorter supply than in previous years, with providers wary of ... Read the full article
Howden sees continued demand as retro challenges drive uncertainty for property cat reinsurers
7th January 2022
Broker Howden expects to see continued demand for reinsurance into 2022 and the North Atlantic hurricane season after property-catastrophe reinsurers lacked the usual clarity on their net positions when offering lines at 1/1, amid late retrocession placements. Alongside the late retro experience, Howden forecasts that continued purchasing interest through 2022 will ... Read the full article
WTW announces Erin Magilton as Risk & Broking leader, Canada
7th January 2022
Insurance and reinsurance broker, Willis Towers Watson (WTW), has appointed Erin Magilton as the leader of Risk & Broking for the Canada region. Based in Toronto, Magilton takes on responsibility for leading the Risk & Broking team in Canada. She will report to Mike Liss, leader of Risk & Broking for North ... Read the full article
Howden forecasts tempered rates for some areas in 2022
7th January 2022
Analysts at Howden are expecting to see “further and accelerated rate tempering in 2022” despite a January 1 renewal period that was largely defined by continued price increases. The broker says higher rates and improved underwriting margins are likely to continue to attract new capital in 2022, although this is unlikely ... Read the full article
Material variances, but property retro prices rise at Jan renewals: GC
7th January 2022
With 2021 being affected by catastrophe events, property retrocession renewals experienced price increases in both aggregate and occurrence products at 1/1, according to reinsurance broker Guy Carpenter. As expected, the largest changes were in loss-affected accounts as well as low-lying aggregate placements following reductions in available capacity, says Guy Carpenter. The broker ... Read the full article
Polish insurance market needs surety reinsurance support: Smartt Re
7th January 2022
Smartt Re CEO Tomasz Libront believes the Polish insurance market needs to open up to wider cooperation with foreign reinsurance markets in order to gain capacity for large construction projects. The broker notes that the combined involvement of banks and insurance companies in the Polish construction sector has exceeded PLN 50 ... Read the full article
WTW names Powney as Head of Surety for UK
6th January 2022
Re/insurance broker Willis Towers Watson (WTW) has announced the appointment of Steve Powney as Surety Practice Leader for Europe and the UK. Powney was previously Head of International Surety at Crum and Forster and has lead surety operations for Asia, Europe and the Middle East. His responsibilities include underwriting, production and operational ... Read the full article
Lloyd’s & London Market see stable conditions at 1/1: Gallagher Re
6th January 2022
Analysts at Gallagher Re have reported that Lloyd’s and the London Market experienced more stable conditions than were seen last year during the January 1, 2022 renewals, despite being generally quite late to market. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for ... Read the full article
Price increases top 30% on some loss-impacted lines at 1/1: GC
5th January 2022
Analysts at Guy Carpenter have observed reinsurance pricing increases of over 30% on some loss-impacted business at the crucial January renewal period. The broker’s Global Property Catastrophe Rate-on-Line Index increased 10.8% year-on-year, and found that structure adjustments, particularly on retentions, were more prevalent in heavier loss-impacted sectors. While pricing exhibited a wide ... Read the full article
Global M&A activity to remain strong in 2022 after a record year: WTW
5th January 2022
Re/insurance broker Willis Towers Watson (WTW) expects global merger and acquisition (M&A) activity to remain strong in 2022 after a record number of deals completed with a value of more than $100 million last year. The latest research from WTW's Quarterly Deal Performance Monitor, run in partnership with the M&A Research ... Read the full article
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